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jim at last year's frenzyIt was noted in the media this week that February homes sales were the at the lowest count in 18 months – yes, a frenzy will do that to you!

http://www.cnbc.com/id/101511116

Sales are going to be ‘sputtery’, and struggle to keep up with previous frenzied months when prices rise sharply.  When prices and rates both rise substantially, you’d think it would put a real damper on sales – but around NSDCC they have held up remarkably well:

NSDCC Detached-Home Sales

Year
Jan. Sales
Feb. Sales
Jan. Avg $/sf
Feb. Avg $/sf
2005
206
184
$500/sf
$480/sf
2006
169
189
$559/sf
$519/sf
2007
157
155
$489/sf
$482/sf
2008
115
131
$474/sf
$485/sf
2009
114
105
$419/sf
$370/sf
2010
137
143
$368/sf
$376/sf
2011
149
166
$366/sf
$377/sf
2012
155
184
$374/sf
$358/sf
2013
185
187
$379/sf
$400/sf
2014
181
176
$498/sf
$483/sf

Let’s remember that these are completely different sets of buyers and houses.  The recent consistency, and resiliency, is remarkable!

P.S. The preliminary numbers for this month look much lower than last year (we had 298 sales in March, 2013, which was 25% higher than in 2012).

This will probably continue for the next few months – any comparison to the max-frenzy months of 2013 is going to look dismal.  But the sky isn’t falling, and price will fix anything.  Get good help!

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